Crude oil 13-11-2023 midday update

Crude oil prices are showing some slight bullish bias and are close to testing key resistance at 77.86, and as we mentioned this morning, prices need to hold below this level to keep the bearish trend scenario active today, supported by the negative pressure forming at the EMA50. As a reminder we are waiting to visit 75.50 and then 73.73 as the next major station.

Today's expected trading range is between 74.70 support and 77.60 resistance.

Expected trend today: Bearish